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THE OFFSHORE AREAS MINERAL (DEVELOPMENT AND REGULATION) ACT, 2002 · GENERAL PROVISIONS FOR ACQUISITION OF OPERATING RIGHTS IN THE OFFSHORE AREAS

Section 14 — Period of commencement of operating rights

A holder of operating right shall commence operation within the period specified below after the grant of the operating right and shall thereafter conduct such operation in proper, skilful and workman-like manner, as follows:—
(a)reconnaissance permit six months;
(b)exploration licence one year; and
(c)production lease two years.